The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Real Estate

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Bayleys, New Zealand’s leading commercial and industrial real estate agency, has re-signed its affiliate status with commercial real estate firm Cushman &amp; Wakefield. 
Bayleys Real Estate managing director Mike Bayley said the branding partnership with Cushman &amp; Wakefield was a winning ‘two-way’ street for both businesses. 
Bayleys is the largest privately owned real estate company in New Zealand with more than 1800 staff, which combined with Cushman &amp; Wakefield’s global reach and 45,000 employees around the world would provide its clients with more access to commercial real estate markets around the world
The joint reach of Bayleys and Cushman &amp; Wakefield in New Zealand would have 4,480 properties under management, totaling 7.8 million sqm. It will have a $2.3 billion commercial property portfolio across 83 offices and 2,000 employees.
“Real estate is essentially about who you know. Being part of Cushman &amp; Wakefield’s global alliance means a lot more potential buyers and tenants around the world can be introduced to the New Zealand property market by their trusted local real estate professional.... be they in Beijing, Sydney, Mumbai, London, Paris, or New York,” Bayley added.
Cushman &amp; Wakefield’s New Zealand integrated facilities management managing director, Paul Amato, said the company’s 71-year old business in the country was founded in facilities management, project management and trades services to both the corporate sector and major government departments.
“Our specialist knowledge of engineering, maintenance, sustainability and asset management is something that we can offer to Bayleys’ client base,” said Amato.
Bayley said the agency’s full-service product suite – encompassing sales and leasing, valuations, property management, and property operations advisory resources - also dove-tailed into the requirements of Cushman &amp; Wakefield’s international customers looking for representation in New Zealand. 
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jonathanchancellor-7SQnKwU6yx

NZ real estate agency Bayleys and Cushman & Wakefield extend partnership 

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GUEST OBSERVER
As a nation, Australians are fascinated with residential real estate.
Today, you cannot open a newspaper, turn on the radio, watch television, or even have a chat with a friend without the subject of residential real estate coming up. 
Of course, when you consider that real estate is the nation’s number one asset class, this is hardly surprising. 
Everyone has an opinion when it comes to real estate. Most recently, we have heard a number of people argue that lenders and mortgage brokers are encouraging borrowers to take out loans they cannot afford, putting them in housing stress. 
I don’t want to contribute further opinion to this topic. Instead, I want to lay down some facts and figures that will hopefully go a long way to painting the true story. 
Residential real estate, like any commodity, is driven by a few key fundamentals, including supply and demand, the cost of credit, employment and access to credit. 
Access to credit, or the amount of money an individual can borrow, will determine what they can and will pay for a property. In recent times, there has been a lot of discussion about the high debt levels in Australia and the purported inappropriate lending practices undertaken by Australia’s lenders and mortgage brokers. 
While we do have high levels of debt in Australia, data from CoreLogic shows the proportion of income needed to service current household debt is actually lower now than it was in 2011. 
In 2011, the proportion of household income required to service an 80% LVR mortgage across the combined capital cities was 43.92%. By 2016, that percentage had dropped to 35.02% thanks, in part, to historically low interest rates.  
So while property is certainly expensive and the level of household debt is high, it would seem many Australians are actually in a better position now than they were five years ago.  
Moreover, lending practices are constantly improving. Borrowers aren’t being forced into higher loans, they are simply choosing to borrow more in order to purchase their desired asset. 
The banking industry is highly regulated and both brokers and lenders are more scrupulous than ever.
20 years ago, a home loan application was a single sheet of paper and the level of data that was collected by a lender was scant. 
Only 10 years ago, approximately 50% of all home loan applications in Australia required borrowers to certify their income and their asset position. These loans, commonly referred to as low-doc or no-doc loans, were very popular within Australia. 
When you contrast these lending practices with what we have today, it is fair to say things have come a long way. 
Today, new legislation requires brokers and lenders to forensically examine a borrower’s assets and liability situation. They are also required to verify a borrower’s employment through documentation as well as telephone checks and discussions with employers. At the end of the day, nobody - lender or mortgage broker - wants a consumer to be in a situation where they access credit they can't afford. 
At Mortgage Choice, the vast majority of our customers are more than nine months in front of their mortgage repayments. They are overpaying their mortgage in a bid to quickly and efficiently reduce their level of debt. 
 Looking ahead, brokers and lenders will continue to do the right thing by their customers, helping them into loans they can afford and helping them to get their foot onto the property ladder.   
I believe property prices will continue to rise across most markets. However, the rate of growth may be more moderate than what we have seen in the past. I do not think mortgage holders are at risk of losing their property. I believe Australia’s lenders and mortgage brokers do all they can to ensure borrowers are in the right product for their needs and long will this tradition continue.
John Flavell is chief executive officer <a href="https://www.mortgagechoice.com.au/" target="_blank">Mortgage Choice</a>.
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jchancellor-FAypfDUnLy

The industry has never been healthier: John Flavell

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One of the most consistent linkages in real estate is that the cities with the tightest vacancies are the ones showing the best rental growth.
This, of course, is no great surprise but real estate data often makes no sense. This is one instance where it does.
The figures on rentals and vacancies are among the most consistent in the real estate research field - and it’s an area where competing research sources generally agree with one another, a lot more often than they do on median prices and the level of price growth.
Domain and SQM Research, for example, have comparable figures on vacancy rates in each of the capital cities and also on rental growth.
The two sources broadly agree that the tightest rental markets are found in Hobart (vacancies around 0.5%), Canberra (1.2%) and Melbourne (1.5%).
The highest vacancy rates are in Perth (4% to 5%), and in Brisbane and Darwin (both around 3%).
The respective vacancy situations correlate closely with annual growth in house rentals.
SQM Research says Hobart house rents have grown 8% in the past year, while both sources record 6-7% growth in Canberra and around 5% in Melbourne.
Meanwhile, the city with the highest vacancies, Perth, has the worst rental performance: SQM says house rents have dropped almost 6% in the past year while Domain records a decrease of more than 7%.
Darwin house rents have dropped 5.5%, according to both sources, while both say Brisbane rents are unchanged.
In most of the major cities, vacancy rates are higher for apartments than they are for houses - and this, too, is reflected in rental performance.
Both Domain and SQM record double-digit growth for apartment rents in Hobart and around 5% increases in Canberra and Melbourne.
In Brisbane, where inner-city oversupply is a growing issue, apartment rents are down about 1% overall.
In Perth, where vacancy rates generally are high but especially in the inner-city unit markets, apartment rents have fallen 7% (SQM) or 10% (Domain).
In Darwin, where unit oversupply has been an issue as well, apartment rents are down 8-9% in annual terms.
The overall impression from all the figures is that rents have not matched prices in growth performance, which has resulted in rental yields contracting in most cities.
The only city with a gross rental yield for houses above 5% is Hobart, which sits at 5.4% according to Domain. 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Tightest rental markets in Hobart, Canberra and Melbourne: Terry Ryder

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A Melbourne real estate agent has lost her licence but avoided jail after being convicted of fraud.
Stephanie Joyce Brown, 43, forged the signatures of tenants on bond claim forms and then directed payments of more than $33,000 to her own bank accounts.
Brown’s offending took place between February and June 2016, when she was working as a property manager at Wilson Agents in Melbourne.
The alarm was first raised by the Residential Tenancies Bond Authority, who alerted police.
Ms Brown pleaded guilty to 23 charges of obtaining property by deception and was placed on a two-year good behaviour bond.
Her estate agent’s licence was cancelled following the conviction.
“Under Victorian estate agent laws, certain offences that carry possible jail terms of three months or more disqualify a person from working as an estate agent,” Consumer Affairs Victoria said in a statement.
“Fraud is a disqualifying offence.”
Ms Brown, formerly Stephanie Naylor, had previously worked for several established real estate agencies in Melbourne.
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j.ballantyne1990-6AQqhLzZaK

Melbourne estate agent's fraud conviction 

<html><body><div class="cq-article-content-paras section">
The residential real estate sector recorded its first revenue fall in five years in the recent financial year.
As estate agents battled low listing volumes in a low commission environment, researchers IBISWorld estimated total fees earned by real estate agents fell by $83.5 million or 0.7 per cent in FY17 to $12.46 billion.
The past financial year also saw the emergence in Australia of low-cost operators, along with the consolidation of lead generating websites which take a share of their commission.
"Rising competition and the digitisation of real estate services are likely to depress profit margins slightly over the next five years and challenge traditional operators," said IBISWorld.
"Digital platforms could undermine the industry's services as they represent a low-cost substitute, although this technology is also becoming a core component of a real estate agent's arsenal."
However, IBISWorld forecast industry employment to rise over the next five years, "with many operators opting to employ additional staff with greater expertise in an attempt to win customers amid rising competition".
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Estate agents took home less in last financial year: IBISWorld

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Of the many personality types who inhabit the real estate investment, the least enlightened are the ones I call the real estate snobs.
These are the people who won’t consider investing in an area they personally would not choose to live in. Their objections are usually couched in these terms: “What person in their right mind would want to live there?”
This kind of attitude invariably is directed at a downmarket area, perhaps stigmatized by a bad reputation for social issues or above-average crime rates. They’re places with plenty of housing that fits the “ugly real estate” tag.
But I’ve found in my 30-plus years researching and writing about real estate that ugly real estate grows in value quite nicely, so long as it sits in an area that fulfils certain criteria.
We might all aspire to live in Toorak or Woollahra but the reality is that 99 percent of Australians can’t afford those places. People buy where they can afford the house prices and if the area offers basics like shops, schools and public transport, there will be no shortage of demand from home-buyers and tenants.
One of the most enduring formulas for capital growth is affordability + jobs nodes + infrastructure. So ugly or not, downmarket or not, and regardless of the attitude of the real estate snobs, locations with these qualities deliver solid capital growth.
Recently, amid the strong market in Melbourne, few locations have delivered better capital growth than the precinct based around the stigmatized suburb of Sunshine. Right now, the locations with the most active markets in the Melbourne metropolitan area are the outer-ring areas where homes are affordable.
That brings me to the Brisbane suburban area of Inala, which arguably carries more heavy stigma that anywhere else in the Queensland capital. Just the word Inala evokes all kinds of negative thoughts and reactions.
The Inala precinct has long been branded as a downmarket area with lots of problems - but the market right now is busy because its offers affordability. And Inala and neighbours like Durack and Richlands have recorded annual price growth in the 10-13% range recently.
Inala is, in fact, well-placed to be a strong real estate performer. It is well-located, has good transport links and sits in an area with good services, including education, health and shopping facilities.
The billion-dollar evolution of new suburbs in the general vicinity, including two major master-planned communities, is creating infrastructure, services and jobs within striking distance of the Inala precinct.
Inala’s greatest strength is its affordable housing options. It is an established suburban area amid new development, therefore offering cheaper alternatives to the new product. It also offers a good range of amenities - lots of schools, parks, golf course, good road connections, a train station at Richlands and the Inala Town Centre.
The Inala precinct is well located between Ipswich and the Brisbane CBD. It is nestled at the gateway of the new communities of Springfield and Ripley Valley. Inala connects to Springfield via the Centenary Highway and the new Springfield metropolitan train line which has stations at Darra, Richlands, Springfield and Springfield Central stations.
Inala began as a community of affordable housing for ex-servicemen after WWII, evolving into a Housing Commission area. This led to its downmarket image which has been compounded by high unemployment and crime rates. Data from the 2011 Census indicates a low percentage of students completed year 12.
These negatives have not prevented the local property market from rising, partly because the area has good services and amenities.
The Inala Town Centre is made up of a plethora of medical centres, business services and supermarkets catering for a diverse range of residents. Richlands Plaza is relatively new and there are several large shopping centres in nearby Redbank, including Redbank Plaza which  houses Coles, Target, Supa IGA, Kmart, Aldi, an 8-screen cinema and 110 specialty stores.
Schools in the immediate area include Richlands East Primary School, Serviceton South Primary School, St Marks Primary School, Inala Primary School, Durack State School, Glenala High School and Western Suburbs Special School. Inala also has a TAFE campus. Springfield’s Education City provides plenty of tertiary options from a variety of providers including the University of Southern Queensland.
The great appeal of the Inala precint is affordability. From 2008–2010, median prices were about $300,000 according to realestate.com.au. In the next three years prices fell before starting a steady rise in 2014.
Data from CoreLogic suggests the median house price in Inala is now $350,000 based on 174 annual sales. This follows a 10% increase in the last 12 months. There have been similar rises in Durack and Richlands.
The long-term growth rate, i.e. the average annual growth in median house prices over the past 10 years, is a steady 6% per year.
Another strength is the low vacancy rate for postcode 4077 (Durack, Inala and Richlands) which is 1.7% and has been below 3% for five years.
Inala has good transport links to employment hubs in Springfield, Ipswich and inner Brisbane. The  $200 million Springfield Health City and the $350 million Metroplex Westgate project at Wacol are examples. The 60ha Wacol Army Barracks will be converted into a mixed-use commercial development.
Work on improving connectivity between Ipswich and Brisbane has been ongoing for numerous years. The latest project involves a $400 million upgrade of the Ipswich Motorway.
So there are plenty of reasons for those on a budget to disregard the gossip and consider the Inala precinct as a good place to live.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Ugly real estate is worth investment, even for real estate snobs 

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There’s a pattern with dwelling prices in Australian cities and in simple terms it’s this: the bigger the city, the more expensive the real estate.
Sydney is more expensive than Melbourne, which is pricier than Brisbane, which outranks Perth, which is dearer than Adelaide, which has higher prices than Hobart. The benchmark I’m using is the median house price.
But there’s one city that doesn’t adhere to the pattern and it’s Canberra. Canberra is a small and relatively insignificant place in terms of its population and economy – but it has some of the nation’s most expensive real estate.
Canberra’s median dwelling price (around $600,000, according to CoreLogic) is much higher than the medians for Brisbane, Perth and Adelaide – and not a lot behind Melbourne’s $660,000.
There are multiple reasons why this is the case. As a government town, Canberra tends to have low unemployment and high average incomes – and that has an influence on real estate values.
But the biggest single reason – and one that speaks to the core of the housing affordability debate nationwide – is the control exercised by the ACT Government.
I strongly believe that the nub of affordability issues – and the source of the most workable solutions to the issues where they exist – is the high cost of producing new dwellings in Australia. The costs are unnecessarily high because all three levels of government mercilessly milk the housing industry cash cow, thereby adding hugely to the cost of creating dwellings. The biggest villains are state and territory governments.
This is the case everywhere in Australia – notably in Sydney where the median price for residential land is double that of Melbourne – but the ACT Government takes ripping off the real estate process to a whole new level.
It controls land supply to the nth degree, drip-feeding new allotments to the market in a way that guarantees demand will always exceed supply many times over, thereby keeping prices high and maximizing government revenue. The industry complains bitterly about it, the Government denies it, and nothing ever changes.
But the ACT Government keeps finding new and interesting ways to squeeze ever more revenue out of the housing construction industry in Canberra – and with each new measure the cost of dwelling creation rises and affordability deteriorates. One of its more cynical moves was to announce it was phasing out stamp duty – and then massively increased rates to compensate.
So it was unsurprising to read that the ACT Government has just come up an innovative new method of ripping more taxes out of the dwelling creation process.
It’s a new $30,000-per-unit development tax, which developers say will make it uneconomic to turn residential blocks into townhouses and units - and will destroy infill development.
They also accuse the ACT Government of attempting to maximise revenue by making its own land in the Northbourne corridor, the Fluffy blocks and new suburbs the only land viable for redevelopment. If they’re right with this accusation, it would continue a persistent theme in the ACT.
At the moment, if builders buy a house block in a suburb such as Dickson or Turner - or any suburbs built before 1971 - to convert to units, they face a "strata tile" charge of $7500 a unit for the first three units and $5000 a unit after that.
But under a new tax lurking in the small print of the June Budget, the charge is hiked to $30,000 a unit. For a six-unit development, that pushes the total bill from $37,500 to $180,000. It’s a massive tax rise by any measure. 
There has been understandable outcry from the Master Builders Association and the Property Council. But the people who should be shouting the loudest are home-buyers because the underlying costs that affect property values in Canberra just got higher.
Unlike Brisbane, Perth, Adelaide or Hobart, Canberra doesn’t have a single suburb with a median house price below $400,000. Charnwood is the cheapest at $420,000 and the ACT Government is the primary culprit – not the scapegoats that everyone seems to prefer like foreign buyers or negatively-geared investors. It's the greedy, idiotic territory government.
The Canberra Times reported: “The development industry says the change will capture at least 95% of residential redevelopment in the older suburbs … and will benefit the government's land profits and help it sell the over-supply of Fluffy blocks by making it impossible for other landowners to compete with the government land. Government land will not attract the charge because it doesn't involve a lease variation.”
It also reported: “Independent Property group director of project planning David Shearer said it was a radical policy change that targeted home-owners, was ‘a very effective way to tax the family home’, with owners already bearing the brunt of huge rates increases, and would bring development to ‘a screaming halt’. And he accused the government of ‘an incredibly arrogant’ lack of warning or consultation.”
He’s probably right, judging by the ACT Government’s track record on these issues.
In a statement, Chief Minister Andrew Barr said lease variation charges were an "economically robust taxation mechanism which ensures the community shares in the unearned windfall gain developers receive from changes to a lease that substantially increase the value of the land".
It’s a typically cheap and nasty political tactic – slug developers on the basis that everyone sees them as greedy rich bastards and hope that no one figures out the people who will really pay are the end-users – the buyers of dwellings, such as first home buyers.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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The bigger the city, the more expensive the real estate: Terry Ryder 

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Two of India's online real estate service providers are merging with REA Group investing some US$50 million in the new company.
Once merged, the two portals, PropTiger.com and Housing.com, will become the only player in India offering the full range of online and offline real estate services.
PropTiger is the largest online residential real estate brokerage firm, with Housing.com an online platform for buying and selling homes.
News Corp remains the largest shareholder of PropTiger, and also owns 61.6 percent of REA Group. Representatives of REA and Softbank will join the board of the joint entity, which will continue to be chaired by a News Corp representative.
The board will include Henry Ruiz, chief digital officer, REA Group, Simon Barnett, sales director, News Corp and Jonathan Bullock, managing director, Softbank Group International will join Raju Narisetti (chair), Ravi Adusumalli from SAIF Partners and Prashanth Prakash from Accel Partners as investor directors on the board of the joint entity. 
Dhruv Agarwala, co-founder and CEO of PropTiger, will serve as CEO of the joint entity. Jason Kothari, CEO of Housing.com will move on.
Tracy Fellows, REA Group chief executive officer said India is an important part of their international growth strategy.
"We believe in the potential of the Indian real estate market. REA invests in companies that are leaders in their markets. The joint entity will have access to REA Group’s expertise and know-how from its operations across the globe,” she said.
Robert Thomson, News Corp chief executive said with 1.2 billion people and a rapidly growing economy and middle class, India’s future as a real estate powerhouse is exceptionally bright.
"Clearly there is a compelling commercial purpose to the deal, but we also firmly believe in providing transparency, analysis and insight so that all Indian families, regardless of traditional background or means, will have a better understanding of the property market,” he said.
Jonathan Bullock, managing director, Softbank Group International said PropTiger has already created a great transaction engine.
An affiliate of Softbank Group Corp is investing US$5 million. 
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REA Group invest US$50 million in Indian property portal

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ASX-listed 360 Capital Group is set to sell its real estate funds management platform to Centuria Capital Group.
Both companies' shares went into a trading halt this morning, ahead of an announcement.
A deal is expected to be announced before the end of the week.  
Centuria Capital is expected to tap equity markets to fund the transaction which was hanging in the balance on the back of recent market volatility. 
Centuria and 360 Capital have been in takeover talks, as exclusively revealed by The Australian's DataRoom column last week, in a deal which will involve Centuria raising about $250 million in cash for the transaction through advisory firm Moelis.
360 Capital is a rival real estate group founded by former Mirvac Group executive Tony Pitt.
Both own retail, offices and industrial properties.
 
Centuria made a $300 million bid earlier this year for the GPT spin-off through, but South Africa-based Growthpoint Properties Australia trumped its offer.
 
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Trading halt for Centuria and 360 Capital

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<img src="https://counter.theconversation.edu.au/content/63187/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
China has a debt problem. But research shows that it’s not the industrial sector or state-owned enterprises (SOEs) to blame but the booming private property market.
The global financial crisis illustrated how debt problems in one part of the world (in this case the US and Western Europe) could have widespread negative consequences. As China is now the world’s top goods trader, second largest economy and third biggest credit nation, a debt meltdown there would have harmful effects well beyond its borders. 
The latest data from the Bank of International Settlements shows that since 2008 China has been responsible for nearly one in two dollars of new borrowing globally. China’s debt has reached 254.9% of GDP, up from 147% at the end of 2008. That’s even higher than in the US, where per-capita incomes are nearly four times greater. 
Two-thirds of China’s debt is accounted for by corporates, while the remainder is in the hands of governments and households. Many commentators blame inefficient and loss-making SOEs for the problem, particularly those in the construction sector and areas of industrial overcapacity such as steel. 
Recent research using survey data from China’s National Bureau of Statistics confirms businesses in steel, coal and electricity have indeed got increased debt levels, relative to their own equity and assets. But when expressed as a proportion of GDP this increase has been small and mostly offset by firms in other parts of the industrial sector with falling debt levels. 
Relative to GDP, between 2008-2015 the debt of industrial firms rose by just 4.4 percentage points, while those in construction increased by 7.0 percentage points. Towering above both was businesses in the real estate sector, where debt leapt by 29 percentage points. 
So while it might be true to say that construction and an over-producing industrial sector are contributing to China’s debt problem, they aren’t the main drivers.
How real estate and private firms are driving debt in China
A recent chapter by economists at the Reserve Bank of Australia (RBA) looked at data from Chinese listed companies and came to similar conclusions. 
Industrial firms (manufacturing, utilities and mining) subtracted from rising overall debt levels from 2008-2015. 
Between 2008-12 it was construction firms that were mostly responsible. Since then it has been businesses in real estate. 
In terms of how debt is held between state and private firms, survey data shows within the debt-laden real estate sector, private developers have been increasing their debt levels, while those of state developers have been falling. 
Across all sectors, state-owned or controlled businesses accounted for three-quarters of the increase in overall debt levels between 2008-2012, evidence from listed companies reveals. But since then these businesses have actually subtracted from rising debt levels, leaving private firms entirely responsible. 
What China’s government can do about it
China’s overall debt trajectory is unsustainable. Research from the International Monetary Fund (IMF) finds that very few countries have experienced a similar rapid build up of debt and escaped without an eventual bust. 
The question for the country is how to reduce the reliance of corporations on borrowing while still maintaining a robust rate of economic growth. 
If state banks throwing good money after bad at SOEs in construction, coal, steel and so on is the problem, then the policy prescription is clear. 
In August, deputy managing director at the IMF, David Lipton argued: 
“To tackle the problem, the Chinese government must, in the words of Premier Li Keqiang, "ruthlessly bring down the knife [on] zombie enterprises”,…It is especially important to restructure SOEs. Many are essentially on life support.“
SOE reform is undoubtedly valuable but alone is unlikely to solve the problem. This is because the big driver, particularly in recent years, appears to be increasingly speculative behaviour by those in the real estate market. 
On the supply side, this has often involved private developers, albeit sometimes with minority state shareholders, while the demand side is comprised of households. The fact that the private sector looms large in China’s debt in some ways makes the problem more complicated to deal with. 
Direct administrative measures such as forcing a merger between a weak state firm and a stronger one may not be possible with private sector players because the government does not own or control these companies. 
At the same time, the unemployment created by the collapse of a large private company would not be attractive for a government obsessed with social stability either. 
Adding further complexity for China’s regulators is that sometimes households do not buy real estate assets directly but instead do so via financially engineered wealth management products, sold by financial institutions. 
The growing importance of mortgage lending in China also creates a potentially destructive link between any problems in the housing market and the stability of the financial system more generally. 
When house prices began to fall in the US in 2006, banks were left with massive bad debts as households defaulted on their mortgages. That said, downpayment requirements in China tend to be high relative to other countries, providing banks with some degree of protection. 
In weighing up China’s debt outlook, another positive consideration is that the household debt to GDP ratio in China is only 40.7%, compared with 78.4% in the US and a whopping 125.2% in Australia. 
Still, given the central role that real estate and the private sector play in China’s debt challenge, moves by the Chinese government to curb property market speculation should be welcomed. Similarly, tighter rules on wealth management products also make good sense, such as limiting the involvement of smaller banks that have less capital to offset potential losses.
James Laurenceson is deputy director and professor, Australia-China Relations Institute (ACRI), University of Technology Sydney and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/james-laurenceson-203" target="_blank">here</a>.
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